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Journal

News/Business. Breaking news from around the world. (CC) (Stereo)

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PBS

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00:30:00

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San Francisco, CA, USA

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Comcast

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Channel 71 (507 MHz)

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mpeg2video

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ac3

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528

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480

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Germany 7, U.s. 5, Berlin 4, Us 4, Cairo 4, Egypt 3, Yasir Arafat 2, Morsi 2, Europe 2, Islam 2, Paris 2, Angela Merkel 1, David Cameron 1, Wolfgang Amadeus Mozart 1, Yasser Arafat 1, Van 1, Animation 1, Tahrir Square 1, Emma 1, United States 1,
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  PBS    Journal    News/Business. Breaking news  
   from around the world. (CC) (Stereo)  

    November 27, 2012
    6:30 - 7:00pm PST  

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>> hello and welcome to the "journal" here on dw. >> our top story this hour -- a deal for greece. more bailout money and a new debt reduction plan. all the reaction from athens. >> the remains of yasser arafat are resumed. was he poisoned by his enemies? >> and mozart made over. how a new performance of "the
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magic flute" is allowing audiences in berlin -- wowing audiences in berlin. >> the greek prime minister has welcomed the european union international monetary fund bailout deal for athens as a new dawn after months of haggling. with the country on the brink of bankruptcy, the agreement will unlock almost 44 billion euros in cash. >> but many in greece are angry that the pact will mean more austerity and job cuts. opponents say it will not solve the country's problems. >> european finance chiefs are all smiles again. a solution for greece appears in sight thanks to a new set of measures meant to plug the country's cash gap and curb debt long-term. >> i am please to announce today we reached a political agreement on the next disbursement to greece.
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let me first say that this is not just about money. this is the promise of a better future for the greek people and the euro area as a whole. >> the latest measure -- the latest package of measures of looks to release loans for agrees with most of it paid out by year's end. but while politicians breathed a sigh of relief, ordinary greeks were out protesting again. athens' next payout is conditional on another round of government cuts and austerity measures. >> they are driving us to poverty and hunger. is that going to make it better for greece? i don't think so. in the next three years, 200,000
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people will lose their jobs just like that. >> those of austerity measures are expected to cost more than 20,000 public workers their jobs. >> for the latest, let's go now live to our correspondent, who joins us live from athens. how much time does this by greece, and what does athens need to do now? how many cuts need to be made? >> the expectations are that there will be a breathing space for greece now up until the end of the first quarter, until march of next year. the money is expected to start flowing into greece in mid- december. but one point to remember here is that much of that money has already been spent, in a sense. this has taken nine months nearly to organize this new bailout, so government departments zero lots of money
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to suppliers. banks have not been able to make many loans, so the money that is going to be coming initially in a sense has been already spent and is not really going to go into the real economy. >> as we saw in our report, greeks are out protesting against this deal. what with the public like to see instead? >> i think the biggest thing they would like is some sense that the unemployment issue is going to be addressed. the protests we saw today were mainly involving municipal workers, city hall workers. not just in athens, as about 2/3 of city halls around the country were shut. many of those workers will be laid off between now and the end of the year. the government is finding it very hard to get the mayors of those city halls to send in the list of names of people who have to be laid off.
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>> thanks so much for the update. germany is a top lender to greece, and lawmakers are expected to approve the release of berlin's contribution immediately. still, there are deep suspicions that talks of a debt write-down have been delayed until after next year's german elections. >> the deal would be put to vote on thursday or friday. >> it is not an easy sell for the defense of the idea of letting greece buy back its bonds at below market value. >> it is important to be fair and say that other eurozone countries should not be profitable. greece needs this. >> german chancellor angela merkel and her finance minister can count on the majority in parliament to support the plan, even though many lawmakers still
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had questions when they were being briefed. opposition parties have not yet laid down their position, but in the past, they have signaled that they will support continuing aid for greece, but the social democrats, germany's largest opposition party, wants more information. >> it is too early to determine what impact tonight's decision will have on the german budget. we have also not yet calculated what the consequences would be for the future of greek debt. >> as far as the opposition is concerned, a hair cut for greece is not off the table yet. if anything, it is being postponed until after the election. >> the prospect that german taxpayers will be left holding the bag on greece is not new. for more, let's bring in our political correspondent.
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how will politicians be addressing taxpayer concerns? >> i think if german taxpayers are concerned that money is being wasted in these bailouts and in these efforts to help greece, i think the government will argue that this deal is evidence that the medicine is working. the troika report has said that greece has begun to introduce the reforms that have been asked for, and that is why the government says that greece deserves more help. they will also say that this deal focuses attention on these ambitious goals to bring down grease's public debt over the coming years, those very ambitious goals, very tough to achieve -- bring down gre ece's public debt. those goals are a long way off and it is unclear weather greece will really achieve them. >> so much for the goals. how largest german exposure to
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greet that? what kind of numbers are we talking about? is a hair cut a possibility? -- how large is german exposure to greek debt? >> what will be missing is not much compared to the billions in guarantees germany has already offered greece. partly, i suppose, what it will ultimately cost the german taxpayer depends on how big any hair cut might be. social democrats say that a debt write-down is inevitable. as some say it is not necessary and that if greece reaches its ambitious targets, may be one could be possible -- maybe one could be possible. >> later in the program, we will take a closer look at how markets responded today to the news from brussels. >> we will have more business
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news as well, but first, we go to egypt. >> there have been more clashes in the egyptian capital, cairo, against what is viewed as a power grab by president morsi. >> thousands of people have converged on tahrir square today as part of a nationwide protest called by opponents of the president's. >> the spirit of the arab spring has returned to cairo. tens of thousands of egyptians have once again taken to tahrir square of the president's decree giving him sweeping new powers. he has been decried as a power- hungry activists and executioner of the egyptian revolution. >> the supreme leader of the muslim brotherhood is the true leader of egypt. >> this was the biggest protest organized by opponents of the
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muslim brotherhood since morsi took office. the muslim brotherhood cancel the protest in support of the president to stave off further clashes, but the debate between a secular and islamic egypt continues. >> the muslim brothers want islam as a country. that is their agenda. they are not hiding it. it is not as though they are doing it suddenly or secretly. this is their declared agenda. >> tensions are running high, and there are no signs demonstrators will head home soon. just five months after the president took power, egypt's fragile democracy is facing its first major test. >> for more, we go live to our correspondent in cairo. thousands of people are still out at tahrir square. what more can you tell us? >> yes, there have been at least 16 people injured in ongoing
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clashes. yes, tahrir square is packed with thousands of protesters that still converging on to the square from various points across cairo. dozens of civil society groups have called for these protests, and today, we see there are members of workers' unions, lawyers, and journalists, people from all walks of life converging on the square. it is actually a really impressive show of unity by the opposition that has been certified of the past month, and that morsi has managed to unite with his decree for the first time. they also call for the fall of the regime and president, and it is the same chant we heard during the 18-day uprising
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against mubarak in 2011, and that only six months after he took office. >> thanks very much for that. earlier today, the grave of yasir arafat was briefly opened as part of investigation to find out weather the former palestinian leader was poisoned. samples taken from his body will be flown to labs in paris, geneva, and moscow for testing. >> palestinian officials say they would petition the international criminal court if the investigation in the yielded prove that arafat was poisoned -- yielded proof that arafat was poisoned. >> after the sample was taken, the tomb was resealed. palestinian officials paid respects while an honor guard stood outside the mausoleum. a panel of experts at about their work behind blue drapes, taking tissue samples from the body of the former palestinian president, who died eight years
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ago in paris. his death has been the subject of rumors and conspiracy theories ever since. over the summer, his widow had his clothing examine, revealing traces of highly poisonous polonium 210. she filed charges for murder. most palestinians take it as a given that israel is responsible. for them, the only question is which poison was used. >> i am sending a question to all the world to help us determine the truth in the killing of yasir arafat. i hope that exhuming yasser arafat's body today will reveal the truth, and we will know the circumstances of the death of our leader. >> but this investigation may not solve the mystery. polonium 210 breaks down very quickly. results are not expected for at least three months. >> the black forest town is mourning the 14 people who died in a fire in a workshop
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yesterday. >> condolences have been coming in from around the country. fire officials say the blaze was caused by a defective gas heating unit that exploded. >> candles and flowers for the victims of the fire. the community is struggling to cope with the tragedy. >> there are no words to describe it. it is especially hard for the families of the victims. >> there is simply nothing more one can say or do. it is just awful. >> fire investigators now believe the fire was caused by gas leaking from an oven. all 14 of the victims -- 11 women and three men -- were in the room where the up and stood and were quickly overcome by smoke. the charity that runs the workshop says it will review its emergency procedures, but for now, attention is on caring for the loved ones of the victims and survivors. many are still in shock.
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>> right now, employees of the center are with their groups or at home with relatives. people are simply trying to come to terms with what has happened. van at a church service for the victims has been scheduled for the coming weekend -- >> a church service for the victims has been scheduled for the coming weekend. >> when we come back after the break, will america charged off the fiscal cliff?
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>> welcome back. >> greece has been thrown another lifeline, as we heard earlier. but the eurozone crisis is continuing to cause economic contraction. revenue figures show that europe pose a growing debt levels are said to present more threats in the years to come, even to vibrant economies, like germany's. >> germany's labor market has weathered the euro debt crisis relatively well across all
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sectors, but a new report by the organization for economic cooperation and development says the unemployment rate in the country will rise slightly next year by 0.2%. and that is not all. the oecd says germany's gdp will grow by just 0.6% in 2013, which is much less than economists were predicting a few months ago, but it is more than france can hope for. and the crisis-hit countries are expected to fare even worse -- spain's gdp is expected to shrink by 1.4%. portugal's by 1.8%. greece's by a massive 4.5%. the report predicts the gdp of the eurozone as a whole will shrink by 4%, but it says germany is unlikely to fall into recession thanks to robust demand on the domestic market. >> to the markets now and the greek rescue package encouraged
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investors this tuesday. our correspondent sent us this update from the frankfurt stock exchange. >> the stock market's, nobody really thought that the euro group would send greece into bankruptcy, but in the end, investors, of course, appreciated this new rescue package for athens. it gives time to breathe, as people were saying here, and it has set a better mood here in the share market, especially banking shares have been on the recommended lists so far. investors are saying that banks take profits out of this rescue package if the politics are able to stabilize the political environment. this also helps the financial community. >> and a quick look at the market numbers now -- the dax closed 0.5% up. euro stoxx 50 closing just slightly up. across the atlantic, the dow
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jones is currently going down, and the euro is trading at $ 1.2933. the world's biggest economy is bracing itself for an economic nightmare. unless u.s. lawmakers reach a budget deal in january 1, a raft of temporary tax cuts are due to expire, and spending cuts will take effect. >> that means the u.s. is charging full speed at the fiscal cliff. the dramatic fiscal tightening triggered by this press this could tip the u.s. and possibly the whole global economy into recession. here is more. >> precision craftsmanship, made in the usa the marlon still company in baltimore produces wire baskets for the automobile, defense, and medical industries. it is one of the fastest-growing companies in the u.s. the company president wants to keep it that way, but at the
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moment, he is holding off on further investments. >> this robot is a good quality robot. phowever, we want to buy the brand-new version that is made in germany. we are pausing right now because of the fiscal cliff. there is so much uncertainty about what will happen in the future. we are not pulling the trigger to by the german robot. >> the prospect of falling off the fiscal cliff frightens more than just greenblatt. numerous business owners across the country are withholding investments in choosing not to hire new workers. that is because numerous tax advantages expire at the end of the year, and at the same time, the federal government looks set to drastically cut spending. experts say the results will be dramatic. >> if we go off the fiscal cliff, we then have an immediate recession in the united states. of course, that extends to all of the world because we are
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still the biggest market in the world. >> now it is up to politicians in washington to find a solution. no easy task, considering the partisan divisions in congress. the democrats who control the senate do not want cuts to social benefits. the republicans who form a majority in the house of representatives are opposed to tax hikes. time is running out. both democrats and republicans have indicated a willingness to compromise, but business owners are skeptical. and many american business people are very concerned that the politicians will not accomplish certainty, and instead, they will blame each other and this will cause more uncertainty. >> especially when it comes to orders from the defense industry. i of the country falls over the fiscal cliff, huge cuts to the u.s. military budget will take place automatically -- if the country falls over the fiscal cliff. >> coming up, a new mozart
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interpretation that uses the latest in animation technology. >> but first, a roundup of stories making news now. the former israeli opposition leader has announced she will return to politics to lead a new party called the movement. the former foreign minister says the party will run in january elections. she described it as an alternative that will push for peace for the palestinians. >> in britain, at least two people have been killed in flooding that followed days of heavy rains. some 800 homes throughout the country are under water. prime minister david cameron pledged government help for the victims. the floods of the worst since 2007 when much of the nation was inundated, causing damages estimated in the millions of pounds. >> the president of belarus says he is proud to be the last dictator in europe. the comments came during a rare interview with the voyagers news agency -- the reuters news
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agency. westerners have pressured him to grant more freedom. >> all too often, when the word "islam" hits the headlines, and diaz's -- it is in the context of turmoil. >> representatives want to address that. i ago, young people were challenged to portray a german islamic success story -- a year ago. >> today, the winners were announced in a special ceremony here in berlin. emma a role model for young german muslims, the three-time kick boxing champion has not lived in germany for long, but he is already inspiring young athletes from the minorities. he even trains them in german. his commitment inspired a young artist to make a film about him. then he is well integrated.
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he cannot speak german very well, but he does his best. >> he is one of several artists who have been awarded prizes by the interior ministry for their portraits of immigrants who have found success in germany. >> i think it is very important to say that these people are contributing to the success of the society, and that is highly significant. >> he is proud of both his turkish and german identities. >> i am cut to represent all over the world. >> he is an example of what young people can achieve regardless of their ethnicity. >> the -- "the magic flute," composed by wolfgang amadeus mozart, has seen many interpretations over the past two centuries, but now a new version of the offer is being performed using animations. >> some purists might have objections, but the latest production uses the latest sign
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graphics technology to create a new breathtaking look at the ancient and classic themes of love and life. >> one of opera's most famous arias reinvented. in this scene, she faces the wrath of her mother, the queen of the night. at first glance, it looks like a film, but this is live opera at its most original. >> we learn very quickly some of the standard things people do with "the magic flute," and we thought, "that's out. that's out. that's out. how can we be really original with this?" >> the acclaimed british theater company decided to wipe the board clean and try something different. in place of traditional set, the show uses 900 animated scenes, integrating animation with the actions of the singers who
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appear in front of the screen. it is precision work. >> each animation is key. someone presses a button to make it happen. it has to go to the music. >> the only thing the producers have not updated is mozart's original score. one of the visual highlights of the show is when the bird catcher sings about his dreams of finding love because that emotion is such a difficult scene to describe in words be. the creators described -- decided to illustrate it. in the scene, he dreams of starting a family with his lady friend. >> it is a fairy tale. it is a magical, sir realistic story. you have to try to bring magic
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onto the stage. >> the show also visually reinvents the opera's other big love story. the animation puts a completely new spin on the concept of love at first sight. a production with a refresh and take on most of's classic that is plenty of fun to watch -- refreshing take on mozart's classic that is plenty of fun to watch. >> it certainly tweaked my interest. am i have to say that the family seen looked frightening. kind of spooky family. that is all for now. thanks for joining us on dw. >> do not forget -- you can find more on our website at dw.de. see you soon. captioned by the national captioning institute --www.ncicap.org--
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